Personal Consumption Expenditures: Services: Transportation Services for Illinois
ILPCETRANS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,210.40
Year-over-Year Change
70.35%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Transportation Services for Illinois measures consumer spending on transportation services within the state. This indicator provides insights into demand for local transportation and is a key component of overall economic activity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series tracks household expenditures on transportation services such as public transit, taxis, and other local travel options in Illinois. It is a valuable indicator of consumer behavior and mobility patterns within the state's economy.
Methodology
The data is collected through surveys of consumers and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and economists use this metric to assess economic conditions and consumer trends in Illinois.
Key Facts
- Transportation services account for over 5% of total consumer spending in Illinois.
- This metric has shown steady growth over the past decade, reflecting increased mobility and economic activity.
- Illinois ranks among the top 10 states for consumer expenditures on transportation services.
FAQs
Q: What does this economic trend measure?
A: This metric tracks household spending on transportation services such as public transit, taxis, and other local travel options within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into consumer demand for transportation and is a key component of overall economic activity in Illinois.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumers and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess economic conditions and consumer trends in Illinois.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Transportation Services for Illinois (ILPCETRANS), retrieved from FRED.